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Tengion Announces Second Closing of Series C Financing
Date:11/19/2008

Funds to Support Clinical Trials for Tengion Neo-Bladder(TM) Franchise

EAST NORRITON, Pa., Nov. 19 /PRNewswire/ -- Tengion Inc., a clinical stage regenerative medicine company focused on the development of neo-organs and neo-tissues, today announced that it has completed a second closing of its Series C financing, receiving a total of approximately $21 million in additional equity capital from the company's existing institutional equity investor base along with new investor, Safeguard Scientifics, Inc. Tengion also announced today that Gary J. Kurtzman, M.D., Vice President and Managing Director of Safeguard Scientifics' Life Sciences Group, has joined Tengion's Board of Directors.

In conjunction with the receipt of additional equity capital, Tengion successfully restructured a portion of its venture debt, which will positively contribute to its cash utilization in 2009.

Participants in this financing round include new investor Safeguard Scientifics, along with Tengion's full roster of current institutional investors: Bain Capital LLC, Johnson & Johnson Development Corporation, Deerfield Partners, Quaker BioVentures, Oak Investment Partners, HealthCap and L Capital Partners

"During this challenging time across the debt and equity markets, we feel that our ability to attract additional financing from leading biotech investors - both new and existing - exemplifies the strength of our data, the exp
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SOURCE Tengion Inc.
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